BB Seguridade reported recurring net income of 941 million reais ($291.24 million), compared with 1.074 billion reais a year earlier. Analysts expected a recurring profit of 1.020 billion reais for the quarter.

The insurance company said it expects a variation in recurring net income of -2 percent to 2 percent in 2018, compared with a contraction of 4.8 percent last year. ($1 = 3.2310 reais) (Reporting by Carolina Mandl, editing by Louise Heavens)